Private equity firm KKR has appointed David Petraeus as chairman of its Middle East business and set up an investment team in the region. The move follows other private equity groups expanding their presence in the Middle East as local governments implement investment programs to diversify their economies. KKR sees the Middle East as an important investment destination due to structural reforms, pro-investment policies, and favorable demographic trends. The regional investment team will be led by Julian Barratt-Due and will focus on investment and partnership opportunities in the Gulf.